On February 20th, by the end of the morning session, the S&P Dividend ETF rose by 0.19%, with a transaction volume of 17.1232 million yuan. The constituent stocks showed mixed performance; on the upside, Aopu Technology led the gains, followed by Chongqing Department Store; on the downside, Shuangliang Energy led the declines, with Sanqi Interactive Entertainment following suit. Industry insiders indicated that based on the judgment that the interest rate center will continue to decline, they believe that the dividend strategy remains effective. Currently, there is an "asset shortage" in the fixed income market, and the dividend yield of high-dividend assets in the A-share market is still attractive compared to other fixed income assets. At the same time, policies continue to guide listed companies to increase dividend payouts, enhancing the attractiveness of dividend assets. From the perspective of new funding demand in the market, in addition to excess savings, the insurance industry also has considerable funds. Moreover, with the gradual implementation of the newly established structural monetary policy tools, such as the convenience of swaps between securities, funds, and insurance companies, as well as the stock repurchase and increase in re-loans, there will be relatively stable and continuous new capital inflows into high-dividend assets